QuinStreet (NASDAQ:QNST) CFO Sells $528,286.64 in Stock

QuinStreet, Inc. (NASDAQ:QNST) CFO Gregory Wong sold 26,296 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $20.09, for a total transaction of $528,286.64. Following the transaction, the chief financial officer owned 521,883 shares of the company’s stock, valued at approximately $10,484,629.47. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gregory Wong also recently made the following trade(s):

• On Wednesday, July 1st, Gregory Wong sold 10,338 shares of QuinStreet stock. The stock was sold at an average price of $15.00, for a total transaction of $155,070.00.
• On Monday, June 15th, Gregory Wong sold 22,057 shares of QuinStreet stock. The stock was sold at an average price of $12.19, for a total transaction of $268,874.83.

QuinStreet Stock Performance

QNST traded down $1.12 during midday trading on Tuesday, reaching $20.90. The company had a trading volume of 2,178,429 shares, compared to its average volume of 834,224. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.22. The stock has a market cap of $1.20 billion, a PE ratio of 14.82 and a beta of 0.66. QuinStreet, Inc. has a 12-month low of $10.28 and a 12-month high of $22.29. The business has a 50-day moving average price of $14.96 and a two-hundred day moving average price of $13.21.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $373.88 million during the quarter, compared to the consensus estimate of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. On average, sell-side analysts expect that QuinStreet, Inc. will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of QuinStreet

A number of hedge funds and other institutional investors have recently made changes to their positions in QNST. BlackRock Inc. bought a new position in QuinStreet in the 2nd quarter worth about $160,805,000. Vanguard Group Inc. lifted its holdings in shares of QuinStreet by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 4,257,710 shares of the technology company’s stock worth $61,183,000 after buying an additional 133,468 shares in the last quarter. Private Capital Management LLC boosted its position in shares of QuinStreet by 0.4% in the fourth quarter. Private Capital Management LLC now owns 4,171,946 shares of the technology company’s stock valued at $59,951,000 after acquiring an additional 17,690 shares during the period. Millennium Management LLC grew its stake in QuinStreet by 21.3% during the third quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company’s stock valued at $26,021,000 after acquiring an additional 295,680 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in QuinStreet by 42.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,184 shares of the technology company’s stock worth $22,923,000 after acquiring an additional 472,407 shares during the period. 97.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QNST. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research raised QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 9th. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a research note on Friday. Finally, Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Friday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.